Russia opens case over robot's fraud in foreign stock trading
Russian investors are suspected of manipulating prices of foreign shares by deceiving a trading robot.
The Investigative Committee of Russia opened a criminal case under Part 4 of Article 159 of the Criminal Code of the Russian Federation.
According to investigators, the actions of the defendants resulted in losses of 154.6 million rubles for the US-registered company, writes RBC .
The materials show that the suspects carried out fictitious transactions between themselves.
From February to May 2022, they groundlessly reduced prices on illiquid American securities.
Investors managed to sell the American company's papers at a lower price and buy them back at a higher price.
Participants in the illegal scheme received income in the amount of 154.6 million rubles.
The Investigative Committee opened a case for fraud committed by an organized group of persons.
